By Pete Schroeder WASHINGTON (Reuters) – Block Inc has agreed to pay a fine of $80 million to a group of 48 state financial regulators after the agencies determined the company had insufficient policies for policing money laundering through its mobile payment service, Cash App. The multi-statement settlement would also see the fintech firm bring …
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. At last, some breathing room for investors after U.S. and UK inflation figures on Wednesday eased the vice-like grip that the soaring dollar and global bond yields had increasingly been exerting over markets. It is too early to say this marks …
Morning Bid: Global inflation relief lifts bond yield gloom Read More »
WASHINGTON (Reuters) – U.S. President-elect Donald Trump is considering an executive order that would suspend the enforcement of the TikTok sale-or-ban law for 60 to 90 days, the Washington Post reported on Wednesday, citing two people familiar with the matter. (Reporting by Jasper Ward)
By David Shepardson WASHINGTON (Reuters) -President Joe Biden’s administration on Wednesday sued Southwest Airlines, accusing the carrier of illegally operating multiple chronically delayed flights and disrupting passengers’ travel. The U.S. Transportation Department said in its civil suit in U.S. District Court in Northern California that the Texas-based air carrier had operated unrealistic schedules and should …
US sues Southwest Airlines over chronically delayed flights Read More »
(Reuters) – The Los Angeles Area Chamber of Commerce on Wednesday announced the creation of a relief fund to support and rebuild small businesses affected by the wildfires that have ravaged parts of Los Angeles for the past week. The Chamber will provide grants ranging from $5,000 to$10,000 as a direct support along with disaster …
L.A. Chamber of Commerce sets up fund to help blaze-affected small businesses Read More »
By Blake Brittain (Reuters) – Gilead Sciences and the U.S. government have settled a billion-dollar patent dispute over Gilead’s HIV prevention drugs Truvada and Descovy, according to a Wednesday filing in Delaware federal court. The settlement follows a victory for Gilead in a 2023 jury trial on the government’s patent infringement allegations. Gilead General Counsel …
Gilead Sciences, US government settle patent case over HIV prevention drugs Read More »
By David Shepardson WASHINGTON (Reuters) – President-elect Donald Trump’s nominee to head the U.S. Transportation Department said Boeing <BA.A> needs “tough love” to get back on track after a 2024 mid-air emergency and that electric vehicles should pay to use roads. “We have to make sure they are implementing their safety plan. We have to …
Trump nominee says Boeing needs ‘tough love,’ EVs should pay for road use Read More »
By Ann Saphir (Reuters) -The U.S. economy ended 2024 with a slight to moderate increase in activity and a tick upward in employment, the Federal Reserve said on Wednesday, but businesses flagged a range of concerns about the potential for policies under President-elect Donald Trump to push prices higher. The findings, which draw on observations …
US businesses wary of Trump policy impacts, Fed survey shows Read More »
NEW YORK (Reuters) -Wall Street CEOs voiced confidence on Wednesday that the incoming U.S. administration would be business-friendly and good for banks as they reported a profits surge after dealmaking and trading picked up. The market environment has already been favorable for banks, with buoyant equity markets and anticipation that President-elect Donald Trump will usher …
Bank CEOs expect Trump bump to business as profits surge Read More »
By Tatiana Bautzer and Manya Saini (Reuters) -Citigroup cut its closely watched profitability target in 2026 as it tackles rising regulatory expenses and, at the same time, announced a $20 billion share buyback program. Citigroup beat estimates for fourth-quarter profit, fueled by strength in trading and dealmaking, sending shares of the third-largest U.S. lender up …
